This annual report is produced by the ACRL Research Planning and Review Committee. It's based on about 500 responses from AACRL members, as well as an extensive literature review. The trends include:

The definition of the library will change as physical space is repurposed and virtual space expands. Most academic libraries provide access to a more resources than ever before. However, the number of physical items in many libraries is declining, as libraries withdraw journal runs to which they have permanent online archival access and/or move lesser-used materials to off-site or shared storage facilities, thus freeing up areas that are repurposed to provide space for individual student and collaborative work. Libraries are expanding their virtual space, reducing space within the library facility for collections, and re-purposing it for student use. The concept of “Library as Place” is still important to students, researchers, and many faculty members. Some libraries have added writing, tutoring, and media centers to provide multiple academic support services in one convenient location.

Be sure to read the whole thing, but the other 9 from the Top Ten are:

•   Academic library collection growth is driven by patron demand and will include new resource types. 
• Budget challenges will continue and libraries will evolve as a result.
• Changes in higher education will require that librarians possess diverse skill sets.
• Demands for accountability and assessment will increase.
• Digitization of unique library collections will increase and require a larger share of resources. 
• Explosive growth of mobile devices and applications will drive new services.
• Increased collaboration will expand the role of the library within the institution and beyond. 
• Libraries will continue to lead efforts to develop scholarly communication and intellectual property services. 
• Technology will continue to change services and required skills.